Part II Matching
__1. Public Goods
__2. Marginal Propensity to Consume
__3. Disequilibrium
__4. Socialism
__5. Capitalism
__6. Supply Side Economics
__7. Corporatism
__8. Collectivism
__9. Dynamic Law of Supply and Demand
__10. Consumption Function
__11. Productivity
__12. Market Failure
__13. Demand
__14. Monad
__15. Phillips Curve
__16. Laffer Curve
__17. CPI
__18. Expected Rate of Profit
__19. Alfred Chandler
__20. Corporation
__21. Limited Life
__22. Limited Liability
__23. Social Surplus
__24. Public Sector Complex
__25. Transfer Payments
__26. Marginal Tax Rate
Answers to Matching II
A. the economic model of fascism, based on national councils of government, business, and labor which
control industries, including answers to all the basic economic questions, and is one of the reasons that it
is incorrect to say that there is actually private property in such systems.
B. originally postulated to show an inverse relationship between unemployment and inflation rates.
C. In the Visible Hand, set forth the thesis that it is middle management that really controls corporate
America.
D. Contrasts with the static rule by taking into account the elasticity of price and response of demand to it.
E. Change in expenditure divided by change in disposable income.
F. the official governmental measure of the rate of inflation.
G. actual consumption.
H. examples would include social security, unemployment, and
subsidies to farms and business.
I. depicts the inverse relationship which can occur between tax rates and revenue collection.
J. increase output per unit of input.
K. the form of business organization which makes possible greater economies of scale because of the
favorability of potential for capital accumulation.
L. began to accelerate in growth following the Great Society programs of LBJ in the 1960's.
M. characteristic of corporations which holds stockholders accountable for only the value of their stock.
N. provided by government at public expense, the use of them by one person hypothetically does not
reduce their use and availability to others.
O. a characteristic of both sole proprietorships and partnerships.
P. determines amount of tax on additional income.
Q. the 'profit' of an economy, the level of which has much to do with determining investment levels.
R. any of a number of collectivist economic programs which include collective ownership or control of the
means of production and the determination of answers to the basic economic questions, and which usually
want to redistribute wealth more equally.
S. market outcome judged to be inadequate. unacceptable, or 'unfair' in relation to some purported goal of
society.
T. an economic system in which free markets and private enterprise and private control of the factors of
production are the rule.
U. a state in which countering forces are not in balance, so that there is a tendency for change to result.
V. a broader and more useful term for any of the forms of group control over the economy, including
socialism, communism, social democracy, and corporatism and fascism.
W. school of economic thought which advocates reduction of government taxation and regulation, and
pro-active support, of market forces to promote production and economic growth and development.
X. as income rises, consumption rises, though not as quickly.
Y. anticipated profit over value of investment.
Z. in Liebniz, this represents the 'discrete particular' disassociated from its field of reference, and thereby
suffering from anomie.
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